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Publish Date : 14-Apr-2016

On Tuesday, Piyush Goyal, Minister of State (Independent Charge) for Power, Coal and New & Renewable Energy launched the Discovery of Efficient Electricity Price e-Reverse Auction portal.

This portal will allow distribution utilities to procure short-term power.

The short-term procurement could be for a period of around one day up to one year.

An official statement said, Currently, of the total generation of around 91,671.33 million units, about 10 per cent is transacted on a short-term basis through bilateral agreements and through power exchanges.

According to Goyal, this newly launched portal would provide transparency in short-term power procurement, along with helping in reduction of electricity costs for state electricity distribution utilities.

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